Urbanisation a key pillar for India's redevelopment and economic growth

"Citification" of Bharat: Emerging nightmare or exciting opportunity' - a key area for concern at Mindmine Summit 2018

Thesynergyonline Real Estate Bureau

Mr. Milind Murli Deora, Former Union Minister of State and Member of Parliament, Hon’ble Minister Shri Hardeep Singh Puri, Minister of State (IC) for Housing and Urban Affairs, Government of India, Ms. Sunita Narain, Director General, Centre for Science and Environment.

NEW DELHI : Addressing the 12th Edition of the Mindmine Summit, Hon’ble Minister Shri Hardeep Singh Puri, Hon’ble Minister of State (IC) for Housing and Urban Affairs expressed a need to create economic opportunities in every city by empowering urban local bodies in India. The Hon’ble Minister was addressing a session on ”Citification” of Bharat: Emerging nightmare or exciting opportunity’ at the Summit. The Mindmine Summit, one of India’s most influential ideas exchange platforms organized by the Mindmine Institute, an independent think tank set up by Hero Enterprise commenced its summit in the capital today on this year’s theme of “India @75: Is this the New India?”

In a freewheeling conversation the Minister Shri Hardeep Singh Puri elaborated, “The redevelopment of India’s infrastructure is taking place in cities. People are moving into urban areas in search of economic opportunities. State has an important role towards empowering urban local bodies with participation from local urban communities. To fulfill the economic opportunities, we need to have a massive skills and technological expertise in order to deal with issues like solid waste management. Today good governance and good politics are going hand in hand.”
Some of the other prominent personalities who were part of the discussion also commented:
Ms. Sunita Narain, Director General, Centre for Science and Environment, said “Livability, quality of life in a city, are important aspects of urbanization. What is the form of urban governance we require that will give people the right to take decision.”

Mr. Milind Murli Deora, Former Union Minister of State and Member of Parliament said, “Challenges in urban governance as it is happening in an uncontrolled way now and needs to be rechanneled and developed at a local level. We need to allow government at the lowest local level to take decisions.

According to IBEF, Infrastructure sector is a key driver for the Indian economy. The sector is highly responsible for propelling India’s overall development and enjoys intense focus from Government for initiating policies that would ensure time-bound creation of world-class infrastructure in the country. India has a requirement of investment worth Rs 50 trillion (US$ 777.73 billion) in infrastructure by 2022 to have sustainable development in the country. The Government of India is expected to invest highly in the infrastructure sector, mainly highways, renewable energy and urban transport, prior to the general elections in 2019. The 90 smart cities shortlisted by the Government of India have proposed projects with investments of Rs 191,155 crore (US$ 30.02 billion) which include Projects Focusing on Revamping an Identified Area (Area Based Projects) with investment of Rs 152,500 crore (US$ 23.95 billion).

India’s average rental yield from residential assets is 3%

Kolkata has the highest rental yield at 3.9%, followed by Bangalore, Hyderabad, Ghaziabad and Ahmedabad
Builder floors have the highest average rental yield of 3.1%.Furnished properties provide a rental yield of 3.3%

With the residential prices being stagnant or witnessing marginal gains, Magicbricks’ report ‘Rental Yield in Residential Sector’ takes a look at rental yield to understand the kind of returns that can be expected in the current scenario. The report covers 14 major cities and considers multi-storey apartments, builder floors, independent houses and villas.

‘Rental Yield in Residential Sector’ reveals that while the average rental yield for India across residential asset types remains low at 3%; builder floors with 3.1% rental return have the highest yield followed by multi-storey apartments with 3% yield. Large format and high capital value assets like villas and residential houses have lower yields of 2.4% and 2.9%, respectively.Magicbricks data also revealed that properties for rent are 10% smaller in size as compared to properties available on sale.

Magicbricks analysis of rental trends across 14 cities showed considerable variation. In general, markets with cheaper real estate were found to have the higher yields. With 3.9% return, Kolkata has the highest rental yield. This is followed by Bangalore, Hyderabad, Ghaziabad and Ahmedabad. The average capital value (Rs./sq.ft) in all these cities is equivalent or less than Rs. 5,500 per sq.ft. On the other end of the spectrum, the bottom five cities (from lowest to highest) in terms of rental yields are Navi Mumbai, New Delhi, Thane, Gurgaon and Mumbai; all these cities have capital value in excess of Rs. 9,000 per sq.ft.

Other low average capital value cities like Noida and Greater Noida have mid-level yields because over the last 12-18 months, considerable fresh supply has entered the market with many under-construction projects receiving occupation certificates. This over supply has dampened the rentals and hence, in spite of low capital values, the yields are in mid-range.

Another aspect that impacts the rental value is the state of furnishings. Other things being equal, furnished properties command higher rental and yield is disproportionate to investment made towards furnishings. At pan India level, the yield on furnished properties is 3.3%. Semi and un-furnished have yield of 2.9% and 2.7%, respectively. The reason behind the marginal difference is due to the lack of any definite benchmark of furnished and semi-furnished.

Low rental yields point to the fact that residential investment purely on the basis of rental yield is not sustainable. Especially considering the fact that national rental yield average at 3% is less than half of prevailing fixed deposit rate offered by the banks.However, low rental yields mean that Indian rental residential market remains affordable. Almost 2/3rd of properties listed for rent fall in Rs. 35,000/month and less rent bracket. Within this segment, almost 50% properties are in Rs.15,000-25,000/month rent range.

Cities with large number of premium and luxury properties like Mumbai, New Delhi and Gurgaon have much higher than national average share of rental properties in premium (Rs. 35,000-50,000 per month) and luxury (>Rs. 50,000 per month) bracket.

"Our worst days are never so bad that you are beyond the reach of God's grace. And your best days are never so good that you are beyond the need of God's grace."
- Jerry Bridges, The Discipline of Grace: God's Role and Our Role in the Pursuit of Holiness

Over 800 delegates to attend NAREDCO's 14th National Convention & Exhibition in Delhi

"Housing as a human right

"We leave something of ourselves behind when we leave a place, we stay there, even though we go away. And there are things in us that we can find again only by going back there."

Pascal Mercier, Night Train to Lisbon

The two-day event will essentially delve into various issues concerning real estate sector and invites politicians, bureaucrats, policy makers, experts, leaders, real estate developers, financial institutions, private equity players and eminent personalities to deliberate on the roadmap for the future, with a firm commitment to ensure timely delivery of Projects and each property at the contracted price of sale, without any escalation.

Over 100 speakers holding responsible positions in Government and private sectors will share the pearls of wisdom acquired through their keen observation, understanding and vision on the relevant topics pertaining to the engaging themes.

The key themes of the sessions include...

1. Emerging trends and affordable housing in India- Multi-trillion dollar opportunity
2. States' policies and participation- Essential for the development of an urban India
3. Real Estate (Regulation & Development) Act, 2016- Transforming the Indian real estate landscape
4. GST- Enabling ease of doing business in India
5. REITs- Opening doors to funding
6. PE funds and financial institutions view- Strategies for the next phase of growth
7. Housing finance and mortgage in India- Enriching lives of the Billions
8. Adoption of modern technology and innovation- Imperative to overcome inefficiencies

Mr. Rajeev Talwar, Chairman, NAREDCO, avers, "An oceanic scope to exercise one's wisdom, unearth the hidden potential and constructively contribute in the real estate sector exists in not distant but near future. The Convention will explore such possibilities."

Mr. Parveen Jain, President, NAREDCO, said, "National Convention would serve as the right platform to discuss the challenges of the sector, learn from prevailing best practices and evolve ways and means to accelerate the pace of real estate growth in the country."

The convention would hence strive to carve a more meaningful and beneficial strategies for all stakeholders in the real estate sector and for much needed boost for its growth.

Supreme Holdings and Hospitality
(India) forays into real estate

Launches first premium project – Belmac Residences in Pune

Thesynergyonline Real Estate Bureau

NEW DELHI, JULY 10 :
Supreme Holdings and Hospitality (India) forayed into real estate, launching its first premium residential project, Belmac Residences in Pune. Located at Wadgaon Sheri, the project offers an ideal combination of staying connected to the city and also promises a great neighbourhood, due to its proximity to Kalyani Nagar and Viman Nagar.

Spread across 6 acres and 1 acre per building, this residential project consists of G+15 storey towers ranging from 2BHKs and 3BHKs. Offering a floor area of 1400 sq. ft. to 3200 sq. ft., the apartments are priced at 1.22 cr. and 1.9 cr. for 2 & 3 BHK respectively.

The project covers a total of 1,60,000 sq. ft. landscape area with 12 acres of land for PMC garden right opposite to the project site. The project will come up in phases with the first two towers likely to be complete in June 2018. The Rs. 370 crore project christened Belmac Residences involves phase-wise construction of a total of 240 premium residential units.

Belmac Residences is located in close proximity to some of the leading IT parks and commercial addresses such as Wakefield IT park, Giga Space, EON SEZ, Magarpatta Cyber City and many more such multinationals which reduces the travel time. Some of the best schools and colleges around the property such as Bishop's School, St. Arnold's Central School, Symbiosis International School, Billabong High International School, etc. reinforce the locational advantages. Healthcare centres such as Sahyadri Hospital, Ruby Hall Clinic, Columbia Asia Hospital and shopping malls such as Phoenix Marketcity, Inorbit Mall, Seasons Mall, Amanora Mall defines the destination of Belmac Residences. Eminent hotels like Hyatt Regency, Westin, IBIS, Novotel are just around the corner.

In order to attempt at disruptive change, Belmac has chosen to take a step, which probably will reap multiple benefits across the class of "Property Lovers". Belmac empowered its Channel Partners with social media skills, thus enhancing their reach, making more easily available relevant information to those seeking it and eventually making it easier for everyone involved that too without stepping out from the comfort of their homes. This social cause will go a long way in enhancing the Digital India, Smart city initiatives thus increasing transparency in the industry as a whole.

Belmac residences offers a green and lively environment with amenities like healthcare (steam, sauna, Jacuzzi, etc.), spa and massage rooms, a club house, a swimming pool, a well-equipped gymnasium, a squash court, a five-a-side football court, a day care for kids, a game room for senior citizens and kids, a library, a business centre with conference room and workstations and a party lawn for multipurpose activities. The project promises a luxurious experience with uncompromised leisure and comfort. It ensures privacy and great health for all its residents.

MUMBAI , MAY 24 :
"Real estate is the best investment on earth, however, when the music stops playing, which happens occasionally, don't be the one left without a chair."
― Steven Ivy - Attorney Entrepreneur

Lodha UK, the London- based development arm of India’s largest real estate developer, Lodha Developers, has raised US$ 375 million (GBP 290 million) as construction funding for its Lincoln Square development in London, located adjacent to the London School of Economics (LSE) and close to Covent Garden. The facility, which is one of the largest ever loans from a single provider for a UK residential project, has been provided by Cain Hoy, the private investment company.

The development is currently under construction and is expected to be completed in the last quarter of 2018. The project has been one of the star performers of the London residential market with over 78 units worth almost USD 170 million (GBP 130 million) sold since its launch in May 2016. Construction is being carried out by Multiplex, the construction arm of global investment major, Brookfield.

The facility includes GBP 80 million to replace the existing debt, provided by Cain Hoy last autumn, and the balance will be used to complete the project over the next two years.

Lodha UK will unveil its flagship development No.1 Grosvenor Square this summer. Located in the heart of Mayfair, No. 1 Grosvenor Square will offer premium residences on one of London’s most prestigious addresses.

3 states together account for half of total investments attracted by real estate and construction sector: Study

Maharashtra tops with almost one-fourth share in total investments

Thesynergyonline Real Estate Bureau

Property

"The purchaser draws boundaries, fences himself in, and says, "This is mine; each one by himself, each one for himself." Here, then, is a piece of land upon which, henceforth, no one has a right to step, save the proprietor and his friends; which can benefit nobody, save the proprietor and his servants. Let these sales multiply, and soon the people — who have been neither able nor willing to sell, and who have received none of the proceeds of the sale — will have nowhere to rest, no place of shelter, no ground to till. They will die of hunger at the proprietor's door, on the edge of that property which was their birthright; and the proprietor, watching them die, will exclaim, "So perish idlers and vagrants!"
- Pierre-Joseph Proudhon, What Is Property?

NEW DELHI, MAY 09 : Maharashtra, Uttar Pradesh (UP) and Gujarat together account for over half of the total investments attracted by real estate and construction sector in India as of December 2016, noted a recent study by apex industry body ASSOCHAM.

"There are about 3,489 projects worth Rs 14.5 lakh crore in the construction and real estate sector that are currently live across India," according to the study titled 'Construction and real estate investment: State-level analysis,' conducted by ASSOCHAM.

While Maharashtra alone accounts for lion's share of about 25 per cent in total investments attracted by real estate and construction industry in India as of December 2016 followed by UP (13 per cent), Gujarat (13 per cent), Karnataka (10 per cent) and Haryana (nine per cent).

"The Centre and state governments must introduce a single-window clearance system at the earliest to avoid time and cost overruns that are impacting the growth and development of real estate sector in India," said Mr D.S. Rawat, national secretary general of ASSOCHAM while releasing the findings of the chamber's study.

"The Government should also grant industry status to the sector to counter the apathy of banks in financing realty projects," said Mr Rawat.

"As for the sector, the companies in the real estate space must keep looking for long-term financial resources to become independent," he added.

The study prepared by ASSOCHAM Economic Research Bureau (AERB) highlighted that almost 90 per cent of construction and real estate investments are concentrated in top 10 states.

So far as the investment growth trend in this sector is concerned, the sector touched highest rate of 13.5 per cent in 2010 but recorded sharp downfall till 2013 whereby it recorded negative growth of about eight per cent but it picked up in 2014 to reach about three per cent and again fell to (-) 2 per cent in 2015.

However, the real estate and construction investments recorded a positive growth rate of 2.5 per cent in 2016 as such the sector clocked compounded annual growth rate (CAGR) of (-) 0.7 per cent between 2011-16.

Among states, Odisha has recorded highest CAGR of about 37 per cent in investments attracted by realty sector during 2011-16 followed by UP (nine per cent), Maharashtra (three per cent), Kerala (1.6 per cent) and Andhra Pradesh (1.4 per cent) while rest all top states clocked negative growth in this regard.
It is worrisome to note that 70 per cent of construction and real estate investment projects remained non-starter in India since 2013.

Secondly, significant growth has also been recorded in projects that remained under different stages of implementation i.e. from 63 per cent in 2009 to about 77 per cent in 2015 which moderated to 72 per cent in 2016.

Among states, over 95 per cent of realty investment projects are under implementation in West Bengal followed by UP (90 per cent) and Punjab (88 per cent).

High under-implementation rate leads to time and cost overruns. As such of over 2,300 construction and real estate projects that are under-implementation, 886 projects are facing an average delay of 39 months and about 93 per cent of these projects are in the housing sector while rest are commercial complex.
More than 95 per cent of delayed 886 projects i.e. 845 projects are accruing to private sector ownership while public sector ownership has only 41 such projects.

Real estate projects in Punjab are facing maximum delays to the tune of 48 months followed by Telangana (45 months), West Bengal, Odisha and Haryana (44 months).

On a positive note, while the new investment activities in real estate and construction sector have recorded negative growth between 2011 and 2015, it recorded a significant spike in 2016 (32 per cent).

States urged to notify RERA and have fulltime regulators in place expeditiously

Thesynergyonline Real Estate Bureau

NEW DELHI, MAY 04 : Mr. Rajiv Ranjan Mishra, Joint Secretary, Ministry of Housing and Urban Poverty Alleviation, today urged the states to complete the process of notification and appointment of full-time regulators at the earliest for Real Estate Regulation Act (RERA) to positively impact the sales and industry's profit.

Speaking at a FICCI seminar on 'Real Estate Regulation Rules, GST & Affordable Housing (CLSS Scheme)', Mr.Mishra said that so far 14 States and Union Territories have notified RERA, which came into force on May 1, 2017 and another 14 States and Union Territories were at an advanced stage of notifying the Act.
RERA aims to protect the rights of consumers and usher in transparency and accountability. The sector which had immense potential to generate employment and scope for investment had remained largely unregulated over the years and with RERA in place, the sector is expected to receive the required fillip contributing to the overall growth of the economy.

He said that states should desist from changing the fundamental rules of the Act. There would be state-specific issues, which will require diverse solutions and states should consider them.

On affordable housing for all, he said that there was a huge demand in this segment and developers should work in this sector proactively. He added that there was a need for stakeholders to work in tandem.
Mr. Mishra said that the industry will have to learn and adapt the new modes of businesses.

With the enactment of the Act, issues will arise and they would have to be dealt with proactively. He urged FICCI to share the industry recommendations on RERA with the ministry to ensure a smooth transition.
On the occasion, the dignitaries released the FICCI-GT-Khaitan & Co. Comparative State RERA Rules Report,which comprises a survey that studies the impact of RERA on the sector and stakeholders. The findings show that more than 60 per cent of the respondents feel that, going forward, transparency will increase in real estate dealings and close to 60% of the respondents feel that RERA will increase the governance hold in the sector and lead to increased investments.

"Control leads to compliance; autonomy leads to engagement."

"It's all very well to run around saying regulation is bad, get the government off our backs, etc. Of course our lives are regulated. When you come to a stop sign, you stop; if you want to go fishing, you get a license; if you want to shoot ducks, you can shoot only three ducks. The alternative is dead bodies at the intersection, no fish, and no ducks. OK?
(Getting Control of the Frontier, Gainsville Sun, March 22, 1995)"
- Molly Ivins

"Free culture depends upon vibrant competition. Yet the effect of the law today is to stifle just this kind of competition. The effect is to produce an over-regulated culture, just as the effect of too much control in the market is to produce an over-regulated-regulated market."
- Lawrence Lessig, Free Culture: The Nature and Future of Creativity

The problem with the 'herd' is that our voice is never 'heard

"Laws continue to be enacted, and the regulatory environment has become more complex due to unacceptable conduct remediation. Consequently, entities continue to be compelled to demonstrate compliance with legal mandates through documented assurance assessments."
- Robert E. Davis, Assuring IT Legal Compliance

Approximately 50% of the respondents hope that the lending options from lenders will improve and availing of finance will be easier and more than 50% of the respondents believe that RERA will reduce litigations. Besides, close to 40% of the respondents feel that the implementation of RERA will help timely delivery of projects and also eliminate non-serious players from the sector. More than 40 per cent of the respondents believe that maximum impact will be in the area of project planning and construction.

Mr. Udai Pratap Singh, Interim Regulator RERA & Vice Chairman, Delhi Development Authority, Delhi, Government of India said that RERA had been brought about to lend transparency, accountability, quality, timely delivery and efficiency to the sector. The Act would also help in building the confidence of the consumers and would also provide a level playing field to the stakeholders and fair deal to the consumers.

In his presentation on Comparative State RERA Rules, Mr. Neeraj Sharma, Director, Grant Thornton Advisory Pvt. Ltd., underlined that the provisions where the Act was silent such as overlap with certain special Acts; compliance related to mixed projects; change of guard during the ongoing projects and structural defect and the ones induced by allottees. He added that the government should facilitate in the seamless transition to the Act and developers should ramp up their processes and systems according to the provisions of the new Act. He also urged consumers to be informed about the provisions of the Act so as to utilize it effectively.

Mr. Navin M. Raheja, Chairman, FICCI Real Estate Committee & CMD Raheja Developers Ltd., said that the regulator should act as a facilitator who should protect the interest of the customers as well as developers. Highlighting the issues of the industry, he said that a national portal should be in place for online clearances and the government must review some of the provisions such as providing refund in 45 days, which has practical implications so as to allow the industry to work effectively.

Mr. Rajeev Piramal, co-chair, FICCI Real Estate Committee & Vice Chairman & MD, Peninsula Land Ltd. said that Maharashtra has been pro-active in working towards implementation of RERA; the regulator is in place and the online portal for registration of on-going projects is up and running. RERA , he added, would bring about transparency in the activities of both developers and the government.

Ms Ambika Sharma, Director General, FICCI, said that in the past real estate sector was facing several challenges and RERA would create a level playing field for the stakeholders.
Speaking about the report, she said that it enumerates and addresses challenges of the industry while analyzing in-depth various provisions and rules of the Act.

"There is nothing more admirable than when two people who see eye to eye keep house as man and wife, confounding their enemies and delighting their friends."
― Homer, The Odyssey

Aims to train more than 500 construction workers in Gujarat and nearby villages

Thesynergyonline Real Estate Bureau

"
"If you build it well, a satisfaction comes
An honor to say I built that with fidelity,
Purpose, value and integrity"
- Richard L. Ratliff

"Our house was made of stone, stucco, and clapboard; the newer wings, designed by a big-city architect, had a good deal of glass, and looked out into the Valley, where on good days we could see for many miles while on humid hazy days we could see barely beyond the fence that marked the edge of our property. Father, however, preferred the roof: In his white, light-woolen three-piece suit, white fedora cocked back on his head, for luck, he spent many of his waking hours on the highest peak of the highest roof of the house, observing, through binoculars, the amazing progress of construction in the Valley - for overnight, it seemed, there appeared roads, expressways, sewers, drainage pipes, "planned" communities with such names as Whispering Glades, Murmuring Oaks, Pheasant Run, Deer Willow, all of them walled to keep out intruders, and, yet more astonishing, towerlike buildings of aluminum and glass and steel and brick, buildings whose windows shone and winked like mirrors, splendid in sunshine like pillars of flame; such beauty where once there had been mere earth and sky, it caught at your throat like a great bird's talons, taking your breath away. 'The ways of beauty are as a honeycomb,' Father told us, and none of us could determine, staring at his slow moving lips, whether the truth he spoke was a happy truth or not, whether even it was truth. ("Family")"
- Joyce Carol Oates, American Fantastic Tales: Terror and the Uncanny from the 1940's Until Now

jQuery toggle to display and hide content

GANDHINAGAR , APRIL 10 : "Construction is the art of making a meaningful whole out of many parts. Buildings are witnesses to the human ability to construct concrete things. I believe that the real core of all architectural work lies in the act of construction. At the point in time concrete materials are assembled and erected, the architecture we have been looking for becomes part of the real world."
― Peter Zumthor

"Housing is a human right. There can be no fairness or justice in a society in which some live in homelessness, or in the shadow of that risk, while others cannot even imagine it." - Jordan Flaherty, Floodlines: Community and Resistance from Katrina to the Jena Six

Taking forward its commitment to the cause of improving the lives of construction workers PNB Housing Finance on Monday signed a memorandum of understanding (MoU) with The Confederation of Real Estate Developers Association of India (CREDAI) ) to train 8000 construction workers pan India. The announcement was made at the Investiture Ceremony of CREDAI Executive 2017-19 under the leadership of Mr Jaxay Shah in Ahmedabad. The announcement witnessed the presence of Mr. Venkaiah Naidu, Minister of Housing and Urban Poverty Alleviation & Information and Broadcasting and Mr. Vijay Rupani, Chief Minister – Gujarat.

The training program is being supported by PNB Housing under its corporate social responsibility (CSR) initiative aimed at providing skill training to construction workers across India. The skill training is provided in the trade of masonry, bar bending, shuttering and electrical. The programme aims to upgrade skills of the construction workers to meet global benchmarks, which in return shall increase the productivity of the workforce.

Speaking at the inauguration, Mr. Sanjaya Gupta, Managing Director, PNB Housing Finance said, "India is among one of the world's biggest construction markets and the last decade has seen the real estate sector bloom. We are extremely focused on improving lives of the construction workers and their families who form the core stakeholder group for us and contribute a good deal towards the overall industry growth. Through our CSR initiatives, we are continuously working towards upgrading their skills, provide them with necessary trainings and creating a conducive working environment for them. The collaboration with CREDAI is one more such step towards our continued efforts aimed at their overall upliftment and empowerment across India."

Speaking at the inauguration, Mr. Jitendra Thakker, said, "The Prime Minister of India launched the skill mission with a vision to make India the World's Skill Capital. Keeping in line with his vision CREDAI, has been focusing on skill development and conducting on-site skill upgradation programmes for construction workers."

"Beginning with the Kushal programme in Pune, CREDAI has till date trained more than 50,000 workers in over 30 cities for more than 100 member developers. Here onwards we plan to skill 1 Lakh workers every year. In this endeavor, we are being supported by our long standing funding partner PNBHFL who have committed to support the skilling of 8000 workers during 2017-18 in a MoU signed with CREDAI during the Investiture Ceremony of CREDAI held in Mahatma Mandir, Gandhinagar on the 9th of April. It is our belief that together we will be able to enable the construction workers to enhance their skills and earn better wages in times to come & upgrade their lives & families."

PNB Housing Finance Limited, in partnership with CREDAI, has supported the training and assessment of 4500 construction workers and are committed to train more construction workers in Fiscal Year 2018.

"How often have I lain beneath rain on a strange roof, thinking of home."
- William Faulkner

"Everybody has a home team: It's the people you call when you get a flat tire or when something terrible happens. It's the people who, near or far, know everything that's wrong with you and love you anyways. These are the ones who tell you their secrets, who get themselves a glass of water without asking when they're at your house. These are the people who cry when you cry. These are your people, your middle-of-the-night, no-matter-what people."
? Shauna Niequist, Bittersweet: Thoughts on Change, Grace, and Learning the Hard Way

MUMBAI, APRIL 05 :
“The desire to go home that is a desire to be whole, to know where you are, to be the point of intersection of all the lines drawn through all the stars, to be the constellation-maker and the center of the world, that center called love. To awaken from sleep, to rest from awakening, to tame the animal, to let the soul go wild, to shelter in darkness and blaze with light, to cease to speak and be perfectly understood.”
― Rebecca Solnit, Storming the Gates of Paradise: Landscapes for Politics

So in an affirmation of its strategy of having a customer- centric approach and selective inventory rollout, Peninsula Land , Ashok Piramal Group Company, notched up sales of INR675croresin February & March 2017. The company has bucked the market trend during demonetization and has managed to achieve sales in 2 months, equivalent to what it achieved in the entire previous year (2015-16). Majority of these sales came from just 2 luxury projects in Mumbai, its recently launched Salsette27 at Byculla and Celestia Spaces, right next to its landmark project, Ashok Gardens.

Nandan Piramal, Director of Sales & Marketing, Peninsula LandLimitedsaid, “2017 has started on a very positive note for Peninsula Land. We are seeing a promising uptake of units at our premium projects Salsette 27 and Celestia Spaces. For Salsette, we only released a limited number of units for sale and each one of them was sold at asking price. Celestia Spaces buyers were provided easy and flexible finance options and by the end Mar 2017 we had sold over 675 Crores across our luxury projects. This is a strong signal from our customers on the positive sentiments of dealing with a transparent company like PLL.”

Rajeev Piramal, Chairman & Managing Director, Peninsula Land Ltd added, "We are delighted with the sale of over 675 Crores injust2 months of the new year. It augurs well for our stakeholders and we are well poised for strong growth in the coming year. Peninsula Land has always created value and wealth for those who have invested in our projects, whether commercial or residential. With Salsette 27 and Celestia Spaces, we are providing a luxurious lifestyle to our customers, in the heart of the beautiful city of Mumbai.”

Salsette27offers contemporary designed 2BHK & 3BHK apartments with luxurious amenities ranging from home automation systems to an exclusive Clubhouse and outdoor recreational activities for people of all ages.

Celestia Spaces located in Sewri, right next to Ashok Gardens, offers open sea views from each side of the apartment and unparalleled panoramas of the cityscape.Offering a mix of 2 BHK & 3BHK Celestia Spaces presents its residents with an array of exclusive lifestyle amenities starting with recreational activities such as a clubhouse, lush landscaped gardens, and a host of modern amenities.

Both the projects are located within close proximity to Eastern water front as per the master plan of Mumbai Port Trust (MbPT) which is at its final stage the sea front will be decked with ecological garden- 5 times the size of Oval Maiden, A grand marina with 300 yards, A Cable car to elephant caves & a complete entertainment hub that will completely revamp the land & both projects would have a front row seat to witness this transformation.

jQuery Animate a Div Height According to Content

Every time you click the above button some content will be added to box and the height of the box is adjusted through animation.

"Home is the nicest word there is."

Deliberately plan to be exciting and to be excited."
― Archibald Marwizi, Making Success Deliberate

"Observe, record, tabulate, communicate. Use your five senses. Learn to see, learn to hear, learn to feel, learn to smell, and know that by practice alone you can become expert." - William Osler Alone, Learn, Practice

"Anyone who sets themselves up as an authority on life is a charlatan."
- Marty Rubin

"Take it from me, an authority on expertise: You can't trust experts."
- Jeff Schmidt, Disciplined Minds: A Critical Look at Salaried Professionals and the Soul-Battering System That Shapes Their Lives

Whether they are at an airline or at a command center, experts will err on the side of excluding the public, as we have seen. If they can avoid enrolling regular people in their emergency plans, they will. Life is easier that way, until something goes wrong."
- Amanda Ripley, The Unthinkable: Who Survives When Disaster Strikes - and Why

An expert is someone who knows some of the worst mistakes, which can be made, in a very narrow field.-Niels Bohr

I don't look at a man who's expert in one area as a specialist. I look at him as a rookie in ten other areas. -Conor McGregor

Try, try, try, and keep on trying is the rule that must be followed to become an expert in anything.- W. Clement Stone
An expert is someone who has succeeded in making decisions and judgements simpler through knowing what to pay attention to and what to ignore. Edward de Bono

"Listen to the experts. They got that way for a reason."
- Erica Larsen, Bad Boy Nice Guy7

An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today.- Laurence J. Peter

Education is not to reform students or amuse them or to make them expert technicians. It is to unsettle their minds, widen their horizons, inflame their intellects, teach them to think straight, if possible. - Robert M. Hutchins
I'm not an expert when it comes to technology, but what changed things for me was autofocus. I used to have to throw away half my pictures because it was so difficult to get the focus right.- Yann Arthus-Bertrand

LUCKNOW , APRIL 04 : Study to acquire knowledge - not just to get a certificate or promotion. Acquisition of knowledge is key to the programming or reprogramming of your mind and expanding your frame of reference. Choose the areas of study in line with your vision and mission as well as your strengths and interests. Make sure you seek opportunities to practice and implement the new information and knowledge you gain from your study."
― Archibald Marwizi, Making Success Deliberate

Indian real estate and infrastructure industry is in an advance stage where an effective implementation of technology can make the industry more systematic, transparent, progressive, and can enable timely completion of the projects.

The event was inaugurated by the chief guest Mr Ajay Kumar Mishra, the chief town and country planner, Uttar Pradesh.

The aim of the conference was to bring together the Government officials, Architects, Engineers, and Building Information Modelling Industry experts of Uttar Pradesh to present and discuss on the latest development in BIM Technology and its dynamic impact on Designing Architectural, Engineering and Construction Industry.

Experts from Graphisoft SE, Budapest, Hungary (Mr. Laszlo Toke, International Sales Manager and Ms.GordanaRadonic, BIM expert) made presentation on BIM applications. This event provided an opportunity to all delegates, professionals, students and industry expert to attend and learn new practices much required for Real Estate &Infrastructure Industry. The queries were answered by experts from RIPL and Graphisoft.

RIPL Director, Ms Soumya Das said "We brought back the ARCHICAD in India last year and received a wonderful response. It is the most advanced software available worldwide and will help the Uttar Pradesh professionals to enhance their skills and deliver the best of the projects in more organized way and meet the timelines.

With incremental investment of just 0.05 per cent of project cost in setting up of the Archicad-BIM Infrastructure, the Project promoter can save upto 5-7% of overall cost by detecting the clashes in design of various departments and accordingly making an efficient plan.

The major problems which Infrastructure industry generally faces are lack ofright planning and monitoring of the project, Non-availability of resource in time which affects the delivery of project at the end. If we use the latest technology, design, qualified professionals and Software like BIM and ARCHICAD, we can improve the proficiency and delivery process which will not only reduce the wastage but also the cost too. This will surely act as a catalyst in the market and boost the Infrastructure Industry of Uttar Pradesh".

And so Tata Housing , India's real estate developer ,on Tuesday launched two high-end property developments at Odeon and Nadhee. Luxa One at Odeon will be the first project in Male furnished with rooftop amenities such as swimming pool, kids play area, gym with health bar, spa, barbecue area and open terrace deck.

Located at the retail and residential luxury hub of the island, Majeedhee Magu, Luxaone is spread across 10000 sq. ft. comprising of 54 luxury, 3 bed apartments. Luxaone will consist of sprawling balconies that afford an unparalleled view of the island and contemporary glass design with natural lighting and fresh cross ventilation feature. Nadhee is built across 21000 sq. ft., located in the exclusive residential area of Sosun Magu will comprise 72 luxury, 3 Bed apartments also with related retail areas and dedicated four wheeler car parking for each unit.

Commenting on this development, Tata Housing spokesperson said, "We are pleased to announce the launch our luxury projects at Odeon and Nadhee. These project are designed to endorse the beauty of its island capital, Male and we believe these would emerge to be the new landmark for Male."

Speaking on the occasion, Mr Akhilesh Mishra, Ambassador of India said "I am happy that Tata Housing, one of the strongest brands in the Indian real estate sector with offerings across various segments is coming to Male. The company is currently developing over 70 million square feet of real estate and has a pipeline of 19 million square feet. Am sure this association between the two countries will go a long way and strengthen the bonds between people of both the countries."

"Universal housing programs have been successfully implemented all over the developed world. In countries that have such programs, every single family with an income below a certain level who meets basic program requirements has a right to housing assistance."
? Matthew Desmond, Evicted: Poverty and Profit in the American City

it is hard to argue that housing is not a fundamental human need. Decent, affordable housing should be a basic right for everybody in this country. The reason is simple: without stable shelter, everything else falls apart."

It was not that low-income renters didn't know their rights. They just knew those rights would cost them."
? Matthew Desmond, Evicted: Poverty and Profit in the American City
tags: housing, poverty, renting 0 likes Like

"Poor families are living above their means, in apartments they cannot afford. The thing is, those apartments are already at the bottom of the market. 24 Our cities have become unaffordable to our poorest families, and this problem is leaving a deep and jagged scar on the next generation."
? Matthew Desmond, Evicted: Poverty and Profit in the American City

"In 2013, 1 percent of poor renters lived in rent-controlled units; 15 percent lived in public housing; and 17 percent received a government subsidy, mainly in the form of a rent-reducing voucher. The remaining 67 percent—2 of every 3 poor renting families—received no federal assistance. 32 This drastic shortfall in government support, coupled with rising rent and utility costs alongside stagnant incomes, is the reason why most poor renting families today spend most of their income on housing."
? Matthew Desmond, Evicted: Poverty and Profit in the American City

A strong economy causes an increase in the demand for housing; the increased demand for housing drives real-estate prices and rentals through the roof. And then affordable housing becomes completely inaccessible. -William Baldwin

The luxury homes have been designed by reputed US-based architects F+A, where each residential unit is carefully planned to maximize living space and allow the flow of natural light and air. The projects will be developed by Apex Realty Private Limited, a joint venture between Tata Housing Development Company Limited and SG 18 Realty Private Limited.

There is no one-size-fits-all solution to the challenges facing our cities or to the housing crisis, but the two issues need to be considered together. From an urban design and planning point of view, the well-connected open city is a powerful paradigm and an engine for integration and inclusivity.- Richard Rogers

NEW DELHI, FEBRUARY 21 : Minister of Housing and Urban Poverty Alleviation, Mr. Venkaiah Naidu on Tuesday directed Secretary of his Ministry to immediately convene "A Roundtable" with all developers, banks and housing finance companies to deliberate in detail as to why no private sector participation has been enlisted under Pradhan Mantri Aavas Yojana and found out reasons for their reluctance in the scheme.

While addressing a conference on "Real Estate Sector Post Remonetisation & RERA" under aegis of PHD Chamber of Commerce and Industry here today, Mr. Naidu said that until yesterday, the government approved Rs.90,000 crores of investments in affordable housing with none in it representing the private sector.

UL class change on li hover

While addressing a conference on "Real Estate Sector Post Remonetisation & RERA" under aegis of PHD Chamber of Commerce and Industry here today, Mr. Naidu said that until yesterday, the government approved Rs.90,000 crores of investments in affordable housing with none in it representing the private sector.

"On this occasion, Dr. Nandita Chatterjee, Secretary (HUPA) to immediately convene a Round Table with all developers bodies, banks and Housing Finance companies and others concerned to deliberate in detail why there has been no private sector participation under PMAY (urban) so far and the road ahead in the new eco-system of opportunities. This round table also need to discuss ways and means, if need be, of improving various components of PMAY (urban) to encourage private sector participation", said the Minister adding "I would expect this Round Table to come out with appropriate business models so that the goal of ensuring Housing for All by 2022 is met".

"Under PMAY (urban), the government has so far approved construction of over 16 lakh affordable houses with an investment of about Rs.90,000 crores for which central assistance of about Rs.25,000 crore also has been approved", explained the Minister, expressing his surprise saying "I am rather disappointed that not a single proposal has come from private builders so far even though (PMAY) urban has been designed envisaging a big role for private sector".

Dr. Chatterjee in her remarks explained merits of Real Estate (Regulation and Development) Act, 2016 saying that its stipulations are equally rewarding for developers and buyers of dwelling units and any compromise on them are subject to legal scrutiny.

He asked industry concluding his remarks, "Isn't this a huge opportunity for developers at the 'bottom and middle of the pyramid? In my view, it certainly is. Then what are you waiting for?"

Dr. Chatterjee in her remarks explained merits of Real Estate (Regulation and Development) Act, 2016 saying that its stipulations are equally rewarding for developers and buyers of dwelling units and any compromise on them are subject to legal scrutiny.

In his welcome observations, President, PHD Chamber, Mr. Gopal Jiwarajka hoped that with re-monetization picking up its space, the real estate sector would witness corrections and supplies would match the demand.

Vice President of the Chamber Mr. Rajeev Talwar in his brief utterances requested the minister that private sector participation in affordable housing would become a reality with slight tweak in PMAY and congratulated the minister for his proactive approach towards the real estate.

Weathering the storm -As realty reels through disruptions, long-term buoyancy still in tact

Div BG color

Shishir Baijal, Chairman and Managing Director, Knight Frank (India)

The impact of demonetisation is a transient one and the economy will undergo structural changes for the first three quarters of 2017

There is never a dull moment in real estate. 2016 began promisingly in comparison to 2015; however as things stand, the year isn't expected to end on a healthy note. A major factor for this could be attributed to the policy developments by the government which in the short term have led to an unpredictable disruption but in the long run are projected to augur well for the industry as a whole. On the global front as well, developments like Brexit and theUS President elect are expected to have their bearing on the Indian real estate sector. The writing's clearly on the wall - 2016 will go down as a watershed year in the history of Indian real estate.

After the demonetization step having been taken, the fund flow in banks is increasing tremendously which is going to have a positive effect as far as banks giving housing loans are concerned 00ff3366ccffffff9900ffcc

After the demonetization step having been taken, the fund flow in banks is increasing tremendously which is going to have a positive effect as far as banks giving housing loans are concerned. It is expected that the bank housing loans' interest rates may fall due to increased fund flow in banks and getting the bank housing loans may become cheaper. Positively predicting such a scenario, this may prove beneficial for the buyers and shall inculcate more interest in purchasing property. The low interest rates if they happen will create more enthusiasm in buyers and more people shall go for the buy in the situation of low interest rates and housing loans becoming cheaper.

As far as the Realty round for the year 2016 and the expectations for 2017 are concerned, the biggest happening has been in the later part of the year 2016 which is demonetization and which is having tremendous impacts all around. Before demonetization also throughout the year certain important developments have taken place this year like RERA ( Real estate regulatory act) and REITs ( Real estate investment trusts).

Now because of arrival of REITs ( real estate investments trusts) to attract investments and ease of doing business in the real estate market, the demand may grow on the commercial market front. Also India enjoys being the favourite outsourcing destination for global business companies like IT, manufacturing, food & health products, clothes, multifarious goods and products industries which need commercial and office space here and the demand for the same may all the more rise.

The Real estate regulatory act (RERA) is likely to bring in transparency in the Real estate sector and may lead the sector to be able to attract more FDIs. RERA establishes the state authority and vests authority on the Real estate regulator to govern both residential and commercial real estate transactions and by dint of this it shall improve the governance hold on the real estate sector reducing disputes and making the system more transparent.

The real estate sector may also be divided into the organized sector and the unorganized sector. Here also the impact of the demonetization shall be that it may bring more transparency in the organized sector and shall be a blow to the unorganized sector bringing its breakdown.

Positively predicting such a scenario, this may prove beneficial for the buyers and shall inculcate more interest in purchasing property. The low interest rates if they happen will create more enthusiasm in buyers and more people shall go for the buy in the situation of low interest rates and housing loans becoming cheaper.

The rule of RERA of depositing around seventy percent of funds in a dedicated account shall ensure sufficient funds for the projects to speed up, get completed and timely delivery to the buyers bringing in more transparency. This is set to improve the feasibility of financing options availability in the market leading to increased investments and propelling more FDIs and thereby making the system more efficient.

The impact of demonetization on realty sector may be divided in two major categories- short term and Long term impacts. Looking at the current scenario, the short term impacts may be slight slowdown of sale and purchase in properties till the prevailing banking situation for people normalizes but once the things come back to normalcy, the long term impacts may be beneficial for the end-users.

The real estate sector market is basically having different segments like the primary and the secondary market. The secondary market is considered as the resale market. The impact of demonetization may bring a slowdown in the resale market or secondary market and it may give a boost to the primary market.

The real estate sector may also be divided into the organized sector and the unorganized sector. Here also the impact of the demonetization shall be that it may bring more transparency in the organized sector and shall be a blow to the unorganized sector bringing its breakdown.

After the demonetization step having been taken, the fund flow in banks is increasing tremendously which is going to have a positive effect as far as banks giving housing loans are concerned. It is expected that the bank housing loans' interest rates may fall due to increased fund flow in banks and getting the bank housing loans may become cheaper.

Positively predicting such a scenario, this may prove beneficial for the buyers and shall inculcate more interest in purchasing property. The low interest rates if they happen will create more enthusiasm in buyers and more people shall go for the buy in the situation of low interest rates and housing loans becoming cheaper.

As far as the necessities of the masses is concerned and to realize the mission of 'Housing for all' and due to the impact of demonetization bringing in more transparency, now the concentration shall be more on building mid segment and affordable housing which is the need of the hour. As metro cities like Delhi,Gurgaon have become the major job zone for all levels and masses are rushing to cities from far of places with each passing day, the demand for mid-segment and affordable housing is increasing manifold every day.

The major impacts of demonetization on Real estate sector shall be more transparency in the deals, boost to the primary market, slowdown in the secondary or resale market, total real estate market shall move further towards becoming more organized.

Govt to set up experience centre for advanced manufacturing: Girish Shankar

Thesynergyonline Real Estate Bureau

Better quality

Construction
services

Plan

Policy

The industry has to gear up for better quality and adoption of right technology. The government is setting up the experience centre for advanced manufacturing as 4.0 industrial revolutions is already there, said Mr. Shankar while addressing an ASSOCHAM Conference on 'Construction Equipment' here in New Delhi.

The demand for construction services is expected to rise manifolds due to several factors like massive expansion of the infrastructure sector, industrialisation, urbanisation rise in disposable incomes and various government, added Mr. Shankar. In the next three years we are going to invest around 1 trillion US$ in infrastructure sector.

"We have planned to build 50 million houses by 2022. In addition, we are developing smart cities and mega industrial corridors. We are also modernising our railway systems including signals, engines and railway stations. We are planning metro rail in 50 cities and high speed trains in various corridors".

"My department has also been active in reforming policies leading to creating better eco-system. We have released our first ever National policy for capital goods sector with a clear objective of trebling manufacturing base to Rs. 75,000 crores by 2025 and raising direct and indirect employment from the current 8.4 to 30 million."

Untitled Document

The demand for construction services is expected to rise manifolds due to several factors like massive expansion of the infrastructure sector, industrialisation, urbanisation rise in disposable incomes and various government, added Mr. Shankar. In the next three years we are going to invest around 1 trillion US$ in infrastructure sector.

NEW DELHI, DECEMBER 07 :
Construction Equipment Manufacturing (CEM) legislation to come soon stated Girish Shankar, Secretary, Department of Heavy Industry, the bill will concern regulations for construction equipment which are not wheeled and use of spurious parts, which though cheap, is detrimental to the equipment said at an ASSOCHAM event held in New Delhi

The industry has to gear up for better quality and adoption of right technology. The government is setting up the experience centre for advanced manufacturing as 4.0 industrial revolutions is already there, said Mr. Shankar while addressing an ASSOCHAM Conference on 'Construction Equipment' here in New Delhi.

"Industry has conveyed to us the problems in leasing, particularly that of multiple taxation". We assure that our department will take up your case with the Finance Ministry, said Mr. Shankar.

India has emerged as one of the most attractive destinations for leading global investors with over 7 percent real GDP growth. The government is laying emphasis to achieve double digit growth, by following proactive, holistic and integrated approach, said Mr. Shankar.

"Industry has conveyed to us the problems in leasing, particularly that of multiple taxation". We assure that our department will take up your case with the Finance Ministry, said Mr. Shankar

"We have planned to build 50 million houses by 2022. In addition, we are developing smart cities and mega industrial corridors. We are also modernising our railway systems including signals, engines and railway stations. We are planning metro rail in 50 cities and high speed trains in various corridors".

The focus is on upgrading the existing airports and putting up regional airport to enhance connectivity to places of economic and tourist importance.

He further said, the construction sector has an important place in the Indian economy. It is the second largest contributor to economic activity accounting for about 8% of GDP. It accounts for the second highest inflow of FDI after the service sector. It generates the highest level of direct and indirect jobs employing about 40 million people and creating 2.7 new jobs indirectly for every Rs 1.00 lakh invested. The sector has major forward (infrastructure, real estate, manufacturing) and backward (steel, cement etc) linkages, implying a high multiplier effect on economic growth, almost two times.

The demand for construction services is expected to rise manifolds due to several factors like massive expansion of the infrastructure sector, industrialisation, urbanisation rise in disposable incomes and various government, added Mr. Shankar. In the next three years we are going to invest around 1 trillion US$ in infrastructure sector.

Similarly, we have planned to construct on an average 15 km of National Highways every day. We are putting up new ports and modernising the old ones through and ambitious plan called 'Sagarmala'.

"My department has also been active in reforming policies leading to creating better eco-system. We have released our first ever National policy for capital goods sector with a clear objective of trebling manufacturing base to Rs. 75,000 crores by 2025 and raising direct and indirect employment from the current 8.4 to 30 million.

The policy also aims to facilitate improvement in technology depth across sub- sectors, increase skill availability, ensure mandatory standards and promote growth and capacity building of MSMEs.

This policy document has tried to identify and address issues relating to all sectors. For construction equipment industry, major bottleneck identified are to expand capacity, need for quality checks requiring regulations to stop usage of spurious spare parts, complex taxation structure, unfriendly tax clearance mechanism and issues with the skill development, said the secretary .

To make essential infrastructure facilities of Industrial Training Institutes (ITIs) available to Infrastructure Equipment Skill Council (IESC) certified Training partners in a phased manner.

We need to continue to focus on the existing sstong government and industry partnership which will help to ensure bridging the technological gaps that exist and further create a roadmap for a robust growth of the construction equipment and machinery sector in India.

Assotech Realty holds plantation drive

"While technology has empowered us in unimaginable ways, the price we are paying for this dependence is an alarming one "
'

Thesynergyonline Realty Bureau

Initiative on planet protection

"Envirochips are a must for every one because our lives are pivoted on technology

NOIDA, NOVEMBER 24 : Planting one tree means planting a whole living system. Recently, Assotech Realty Pvt. Ltd. organized the Green Initiative for Tree Plantation. The event was a great hit as the company's MD Mr. Neeraj Gulati emphasized on the importance of tree plantation.

Various channel partners as well as the senior management positions like Mr. Salil Kumar (Director sales and Marketing), Mr. Mahendra Goel (Director) also participated in the event.

They all took initiatives in promoting the green concept. As one can see that post Diwali, the environment got polluted badly. It was a small gesture to help the planet Earth feel that we still care for it and want others to protect the planet earth.

Mr. Neeraj Gulati Managing Director, Assotech Realty believes that "Envirochips are a must for every one because our lives are pivoted on technology. While technology has empowered us in unimaginable ways, the price we are paying for this dependence is an alarming one.

Scientists are now ringing the alarm bells on the excessive use of wireless devices like mobile phones causing governments across the world to take steps for moderation. So, distributing the same on this event was definitely a great idea".

All channel partners participated in the event and felt happy. There was a small refreshment to all the participants and they were rewarded with the Certificate of Appreciation and an Envirochip.

"Global warming is not a prediction, it is happening." - Hames Hansen

Global warming is present tense, not future

CLICK HERE : Real estate investing, even on a very small scale, remains a tried and true means of building an individual's cash flow and wealth

Estrade Awards 2016 saw an overwhelming response with over 200 nominations received this year. The judges had a grueling task of choosing 29 awardees, who were felicitated at the awards night held on Friday 21st October 2016 in Singapore. For the first time Estrade Media Pte. Ltd. also introduced Estrade BUILT Awards Category that included companies from the Building Utilities sector.

The panel discussion on the challenges faced by India's real estate sector was the highlight of the evening. Vishwasjeet Singh, Editor-in-chief, www.estrade.in moderated the power packed session which included Amit Bhasin, Head Strategy, Housing.com along with the renowned Architect Christopher Benninger and Estrade Jury Member Arshi Pathan. The topics discussed include, Government of India's SMART cities project, Affordable housing – which is Hon'ble PM Shri Narendra Modi Ji's dream project "Housing for All by 2022", Funding in the Real Estate/Infrastructure Sector and new trends in Real Estate Architecture. This was the first time challenges faced by India's Real Estate sector were discussed at an international public forum.

Vishwasjeet Singh, Editor-in-Chief, www.estrade.in said, "Real Estate sector alone contributes more than US$ 100 billion to India's economy, accounting for roughly 5% of the GDP. With the Government's push for better infrastructure, the potential for growth and opportunities is endless for all players." He further added, "When you see that Real Estate and Building Utilities players complement each other, a combined platform to bring them together is a major win for all. Moreover, Singapore being the financial and technological hub, and a leader across industries, offers great learning to Indian professionals. Estrade awards bring together the key stake holders every year."

This awards night was attended by who's who of India's Real Estate and Building Materials industry professionals. Estrade Awards, Singapore, is a strong networking platform to recognise the contribution of Indian professionals that include the real estate developers, building utilities, architects and interior designers.

"We make our house a home, but the sooner the mortgage is paid off, the sooner it truly turns into our own home."
― Celso Cukierkorn, Secrets of Jewish Wealth Revealed!

NEW DELHI, , OCTOBER 17 :
"Real estate is the best investment on earth, however, when the music stops playing, which happens occasionally, don't be the one left without a chair."
- Steven Ivy - Attorney Entrepreneur

And so National Real Estate Development Council (NAREDCO) with APREA have organised two day summit on Real Estate Infrastructure and Investment in Mumbai. The major focus was to highlight that infrastructure, housing and real estate are the engine of economic growth of the country because of their huge backward and forward linkages with other sectors of economy. With various initiatives and reforms introduced by the NDA Government, the housing sector is ready to attract overseas investments.

The intense deliberations involving various stakeholders from the real estate sector called for driving the mantras of transparency, predictability, partnerships, uniformity, affirmative actions, long term growth and sustainability in taking India's real estate sector to unprecedented heights.

Mr Rajeev Talwar, Chairman, NAREDCO and CEO, DLF said :

"RBI should expand the scope of 'priority lending', to cover lending to developers involved in low-cost and affordable housing, as cheap funding is critical for developing low cost housing projects. Availability of land for development is the need of the hour for creating affordable housing and improving infrastructure. Real estate in India could evolve in the same way as even foreign markets have evolved. Commercial real estate has already started showing signs of improvement."

Mr Parveen Jain, president NAREDCO and CMD, Tulip Infratech, said :

"The summit will surely be an ice-breaker to many of the financial challenges that our country is experiencing. The takeaways will provide for laying roapmap on which India can advance to garner optimum foreign investments. For every rupee invested in construction, 78 paisa is ploughed back to the GDP and a unit increase in final expenditure generates additional income five times. Looking at India's potential, construction sector is capable of contributing 15 percent of the GDP by 2030 and employ 75 million work force. The size of Indian construction market is expected to be US S1 trillion- 3rd largest globally"

Mr Rajnish Kumar, MD, National Banking Group, SBI , said :

"Real estate like any other industry has also experienced ups and downs." Calling for business based on sound principles, he called for time-bound completion of housing projects to check spiralling costs. There is not enough supply of land which is not in sync with demand. The cost of land, transaction fees are all contributing to high cost of property. In India, construction time is very long when compared to the west, due to which finance cost goes up. Hopefully, recent amendments with new regulatory regime banks will be willing to pass on the benefits to the home buyer. We are on the cusp of a revolutionary change be it RERA but self-discipline is a must for the industry. Our focus must be on finding new avenues in raising funds and completing projects on time.

The two day summit that included panel discussions, debates and presentations on various topics such as, India's infra and real estate sector – enabling policy framework for integrated development; Growth drivers for attracting investments, on track for affordable housing and housing for all; Where is the capital headed - India vis-à-vis other emerging markets – global institutional investors moving towards alternatives; New hotspots: Social infra, logistics and warehousing, renewable energy; Growth in AIF Funds – impact of new regulations and innovation in structures; Opportunities for AIF funds v/s FDI Fund v/s Portfolio management services.

Housing

Real Estate Investment Trust (REIT), recently launched by SEBI, will be a step in the right direction for the Indian real estate market. Providing tax incentives to REITs for investment in housing, especially the affordable housing, will give much-needed fillip for investments in the sector. The secondary mortgage market needs to be promoted by the Reserve Bank of India through Mortgage Backed Securities (MBSs) and Collateralized Mortgage Obligations (CMOs) with safeguards in place to avoid a sub-prime crisis in India.

Private Equity (PE) investments from foreign funds in Indian realty sector rose by 33 per cent to Rs 14,974 crore during last year. However there is a huge deficit and if we are to house all citizens by 2022 then it requires an investment of US $ 2 trillion for construction of 9 crore housing units; the present shortage plus additional demand of housing by 2022. The Summit explores ways of bridging the financing gap through partnerships, asset monetisation, role of HNIs and family offices.

The recent passing of the Real Estate (Regulation and Development) Act, 2016 (RERA) is set to boost investor confidence, accentuation more foreign investments into a more transparent realty sector. There has been a surge of demand for non-housing asset classes like commercial and IT/ITES space, retail, hospitality, warehousing and other income producing assets, buoyed by the enabling regulations under REITs.